Bank Owned/Foreclosures
There is a lot of confusion regarding the difference between foreclosure properties and short sales properties.A foreclosure property is a property that has been foreclosed on and the bank or the lien holder has taken the property back.Usually after getting ownership again, the bank will list the property with a Real Estate agent to try to sell the property to recover some of their losses.Foreclosed properties are often referred to as Real Estate Owned or REO properties.
A short sale is basically a pre-foreclosure where the Seller is behind on their payments and they are trying to sell their house for less than what is owed on the property.This is usually preferred over going into foreclosure for all parties as it is less expensive for the banks and not as damaging to the Seller as a foreclosure.Once an offer is received, the Seller submits the offer to the bank asking for a short payoff so that the sale can take place.
Usually bank owned or REO properties are quicker to close and easier to work with as the bank has listed with an agent and a asset manager or bank employee has been assigned to the property.Short sales on the other hand can be very frustrating and take time as a negotiator has to be assigned after the contract is received and then the bank has to order appraisals or broker price opinions (BPOs) to value the property.Most of the time, short-sales are worth the frustration as some of the best values can be had during the pre-foreclosure procees.
Anyone involved with a foreclosure or a short-sale should consult with their CPA and Attorney to any tax or legal consequences that are involved.
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Price: $5,900,000
BANK OWNED PROPERTY - OPPORTUNITY to own a Resplendent Residence in one of the most sought-after zip ...
Listing information courtesy of COLDWELL BANKER RES R E.
MLS#
A3940117
MLS:
MFRMLS
Bedrooms:
5
Bathrooms:
4
Partial Baths:
2
Square Ft.:
6640
Price: $3,850,000
Outstanding Waterfront Opportunity on Bird Key in this 2007 built home situated on a wide open prote ...
Listing information courtesy of COLDWELL BANKER RES R E.
MLS#
A3956290
MLS:
MFRMLS
Bedrooms:
5
Bathrooms:
5
Partial Baths:
1
Square Ft.:
8071
Price: $2,300,000
Short Sale - Gorgeous waterfront estate located in Sorrento Shores with 120 feet of Intracoastal Wa ...
Listing information courtesy of CRISTELLO AND CO REAL ESTATE.
MLS#
A3946671
MLS:
MFRMLS
Bedrooms:
5
Bathrooms:
4
Square Ft.:
4530
Price: $1,950,000
Short Sale. Active with Contract. This French inspired custom estate, the Palais du Lac in the Lake ...
Listing information courtesy of LUXURY ESTATES INTL R.E. & DEV.
MLS#
A3941640
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
6
Partial Baths:
2
Square Ft.:
8063
Price: $1,500,000
SHORT SALE. Concession private golf course living at it's very best. This magnificent home that boas ...
Listing information courtesy of KELLER WILLIAMS LAKEWOOD RANCH.
MLS#
A3954151
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
5
Square Ft.:
4990
Price: $1,500,000
Short Sale. Looking to build your luxury dream home? Rare opportunity to complete this Mediterranea ...
Listing information courtesy of A & D EDWARDS AMERICAN DREAM.
MLS#
A3953160
MLS:
MFRMLS
Bedrooms:
5
Bathrooms:
6
Partial Baths:
1
Square Ft.:
7685
Price: $1,450,000
Short Sale. Step into this pristine 4 bedroom 4 full bath and 2 half bath Todd Johnson custom built ...
Listing information courtesy of COLDWELL BANKER RES R E.
MLS#
A3956049
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
4
Partial Baths:
1
Square Ft.:
5645
Price: $1,350,000
SHORT SALE: Banks had approved price several months ago. You must see this one of a kind Southwest ...
Listing information courtesy of KELLER WILLIAMS REALTY.
MLS#
M5815272
MLS:
MFRMLS
Bedrooms:
5
Bathrooms:
4
Partial Baths:
2
Square Ft.:
8881
Price: $1,299,000
SHORT SALE, expect a quick LENDER RESPONSE of 2 to 3 weeks: Stunning Rutenberg 'Rhapsody' (prior mod ...
Listing information courtesy of SIGNATURE SOTHEBYS INTERNAT'L.
MLS#
A3916468
MLS:
MFRMLS
Bedrooms:
3
Bathrooms:
5
Partial Baths:
1
Square Ft.:
5131
Price: $1,297,750
Short sale -One of America's great residential country clubs, The Concession, Located on Florida's G ...
Listing information courtesy of KELLER WILLIAMS LAKEWOOD RANCH.
MLS#
A3944585
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
5
Partial Baths:
1
Square Ft.:
6543
Price: $1,250,000
Short Sale. RARE opportunity to have the beach across the street and also be located bayfront. Enjoy ...
Listing information courtesy of SANDRA LEE LABARRE REAL ESTATE.
MLS#
M5819128
MLS:
MFRMLS
Bedrooms:
3
Bathrooms:
3
Square Ft.:
4331
Price: $1,200,000
"Short Sale" Now is your chance to own a gorgeous and unique secluded estate on almost six acres nes ...
Listing information courtesy of A & D EDWARDS AMERICAN DREAM.
MLS#
A3955153
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
4
Partial Baths:
2
Square Ft.:
6317
Price: $1,195,000
A rare opportunity to live in the most exclusive waterfront single family community on south Longboa ...
Listing information courtesy of COLDWELL BANKER RES R E.
MLS#
A3946437
MLS:
MFRMLS
Bedrooms:
3
Bathrooms:
4
Partial Baths:
1
Square Ft.:
3841
Price: $1,150,000
Short Sale. Experience unparalleled luxury and design! Prepare to be amazed by the exquisite craftsm ...
Listing information courtesy of RE/MAX TROPICAL SANDS.
MLS#
A3951063
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
3
Partial Baths:
1
Square Ft.:
3654
Price: $1,100,000
Short Sale - CUSTOM MEDITERRANEAN STYLE HOME.PRIVATE WALLED ENCLAVE, BOAT SLIP,2 MINUTES TO OPEN WAT ...
Listing information courtesy of PRUDENTIAL FLORIDA REALTY.
MLS#
N5765692
MLS:
MFRMLS
Bedrooms:
3
Bathrooms:
3
Partial Baths:
1
Square Ft.:
5100
Price: $1,050,000
Short Sale. Close to the beach, restaurants and world class shoppingThis charming renovated 3/4 bedr ...
Listing information courtesy of MICHAEL SAUNDERS & COMPANY.
MLS#
A3938053
MLS:
MFRMLS
Bedrooms:
3
Bathrooms:
3
Square Ft.:
2504
Price: $1,050,000
SHORT SALE-Wonderful waterfront home on sailboat water with direct access to the Intercoastal waterw ...
Listing information courtesy of MICHAEL SAUNDERS & COMPANY.
MLS#
A3947643
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
3
Square Ft.:
3496
Price: $1,000,000
SHORT SALE: Proof of Funds must accompany all offers. Listing price may not be sufficient to pay the ...
Listing information courtesy of REALTY EXECUTIVES SOLUTIONS.
MLS#
A3941204
MLS:
MFRMLS
Bedrooms:
5
Bathrooms:
4
Square Ft.:
4752
Price: $995,000
Short Sale. Lowest priced home in Exclusive Corey's Landing. Enjoy the privacy and beauty of this ...
Listing information courtesy of SIGNATURE SOTHEBYS INTERNAT'L.
MLS#
A3954973
MLS:
MFRMLS
Bedrooms:
3
Bathrooms:
3
Partial Baths:
1
Square Ft.:
3436
Price: $995,000
Short Sale. An extraordinary estate home nestled on a picturesque preserve lot in fabulous Founders ...
Listing information courtesy of SIGNATURE SOTHEBYS INTERNAT'L.
MLS#
A3944291
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
4
Partial Baths:
1
Square Ft.:
5298
Price: $989,900
Bank Owned! Only a select few will ever be fortunate enough to take advantage of this remarkable op ...
Listing information courtesy of CANDY SWICK & COMPANY.
MLS#
A3955957
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
4
Partial Baths:
1
Square Ft.:
4782
Price: $950,000
SHORT SALE. Active with Contract. Fantastic sunrise to sunset panoramic views from this luxurious c ...
Listing information courtesy of KELLER WILLIAMS ON THE WATER.
MLS#
M5822119
MLS:
MFRMLS
Bedrooms:
5
Bathrooms:
5
Partial Baths:
1
Square Ft.:
4618
Price: $915,000
Prime waterfront real estate on St. Armands Circle. Walk to one of Sarasota's finest destinations fo ...
Listing information courtesy of RE/MAX ALLIANCE GROUP.
MLS#
A3953657
MLS:
MFRMLS
Bedrooms:
2
Bathrooms:
2
Square Ft.:
2068
Price: $899,999
SHORT SALE. Active With Contract. Opportunity in sought after Palmer Ranch's Silver Oak Estates. Th ...
Listing information courtesy of MICHAEL SAUNDERS & COMPANY.
MLS#
A3949679
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
4
Square Ft.:
4365
Price: $899,900
"Beautiful Arthur Rutenberg St. Augustine VI model with custom upgrades that set this home apart fro ...
Listing information courtesy of MICHAEL SAUNDERS & COMPANY.
MLS#
A3950346
MLS:
MFRMLS
Bedrooms:
4
Bathrooms:
3
Partial Baths:
1
Square Ft.:
4403
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